Company briefs :Serrano


Serrano, which supplies furnishing and other finishes for condominiums and hotels, said yesterday its unit Serrano Holdings received a writ of summons filed with the High Court on Monday.

Maxcon Enterprise is claiming about $715,000 for goods sold and delivered to Serrano Holdings last year and this year, with interest at 5.33 per annum.

Serrano is seeking professional advice on the matter.

Earlier this year, the firm applied for a stay of proceedings under the Companies Act, preventing legal action against itself for 12 weeks.

Otto Marine

Offshore marine group Otto Marine's unit Otto Ventures has defended itself in arbitration proceedings.

Claimants wanted US$8.88 million (S$11.8 million) in damages from Otto Ventures.

On Monday, the tribunal dismissed the claims entirely, and ordered the claimants to bear all of the unit's costs and expenses relating to the arbitration.

The claimants were also ordered to bear all the Singapore International Arbitration Centre's costs and expenses, and the tribunal's fees and expenses.

China Sports International

China Sports International, a branded sports fashion footwear and apparel company, is pushing back a shareholders' dialogue that was supposed to be held today.

The firm said it would be rescheduled to a date when all directors are available to attend.

It had said last week that executive chairman and chief executive Lin Shaoxiong had taken hospital leave from Aug 4 for throat surgery.

Executive director Lin Shaoqin took over his responsibilities for the time being.

The firm released Mr Lin's medical certificate yesterday and added that he was unable to attend the dialogue because his passport's validity is less than six months.

Other directors, such as Mr Ang Wei Chuan and Mr Lim Kim Huat, are overseas.

A version of this article appeared in the print edition of The Straits Times on August 17, 2016, with the headline 'CompanyBriefs'. Print Edition | Subscribe